ENDEXX Corp. (OTC:EDXC) has announced the acquisition of a controlling interest in Hyla US Holdco Ltd, a producer and distributor of organic, plant-based, all-natural, zero-nicotine vape products.
The acquisition adds 10 new countries to Endexx’s international distribution network, namely Dubai, Saudi Arabia, United Kingdom, Czech Republic, Slovakia, Germany, France, Bahrain, Egypt, and Switzerland, which will provide further leverage for the sale of the company’s skincare line for men, Blesswell, as well as for its hemp-derived products marketed under the CBD Unlimited brand, the company said.
"This acquisition is an important opportunity for Endexx, as the ability to expand the distribution for our CBD and non-CBD Blesswell men's skincare products is a significant benefit,” Endexx CEO Todd Davis said in a statement.
READ: Endexx says its Blesswell premium skincare line for men is now available via Amazon.com
“We have already achieved substantial success in the United States through our retail distribution in Walgreens, Target, and CVS and, as announced yesterday, Amazon. International distribution in Europe and the Middle East, with the potential of future distribution in Latin America and Asia, holds great promise," he added.
Based on Hyla's distribution and sales of its non-nicotine, vegan vape products to-date, Endexx said it expects the acquisition to contribute significantly to its consolidated revenues.
Hyla currently markets its proprietary non-nicotine, guarana and L-dopa-based vape products in a wide variety of flavors. The Hyla device is the first non-nicotine vape product to be produced in this manner in the US and provides an unprecedented 4,500 puffs per device. Introduced in October 2021, Hyla's initial inventory of 140,000 devices was sold out within the first month of availability. The Hyla vape products bear the Underwriters Laboratories global safety certification and carries the Conformité Européenne (CE) certification.
"Because Hyla's products do not contain any nicotine, and utilize the well-known plant, guarana, and other botanicals, we believe that Hyla's products may create a brand new vape market in the United States that avoids the issues associated with nicotine-based products," Davis continued. "We look forward to providing product and distribution updates in the near future."
Endexx develops and distributes all-natural, plant-derived topical skincare products. Its products vary from balms, creams, lotions, butters, masks, scrubs, and oils, all with the shared purpose of healthy skin and grooming wellness. The science behind the products involves a decade of clinical research in the field and lab work to provide functional formulation with ingredients for optimal absorption and support of skin health.
Contact the author at jon.hopkins@proactiveinvestors.com